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Agro Dutch Foods

Price as on 1/10/99 : Rs 131.65

Price as on 24/9/99 : Rs 89.75

The scrip gained 46.7 per cent during the week. Agro Dutch Foods is the largest exporter of mushrooms in India, accounting for 14,000 tonnes out of a total of 23,000 tonnes. The company has now tied up with the US based NRI promoted Kanan Group to export 6,000 tonnes of mushrooms worth US$20 million. the Kanan Group would also pick up a 5 to 10 per cent stake in the company by investing US$2 million through the preferential route.

The demand supply gap for mushrooms in the United States is a huge 70,000 tonns per annum because of the anti dumping laws against China (which restricts availability in the US), and Agro Cutch will be able to cash on this opporutnity. It reported a net profit of Rs 3.48 crore ona turnover